In 2024, Rwanda continued its journey to establish itself as a global player in digital transformation while making significant strides in the mining sector. Among the year’s highlights were advancements in lithium exploration, ambitious revenue targets for mineral exports, and efforts to tackle challenges such as illegal mining.
Here’s a closer look at the key developments shaping Rwanda’s mining industry this year:
1. Advancing Lithium Exploration with Rio Tinto
In October, Rwanda deepened its commitment to lithium exploration by signing a new agreement with global mining giant Rio Tinto. This deal builds on the initial 2023 partnership between Rio Tinto, the Government of Rwanda, Kinunga Mining Ltd, and British exploration firm Aterian PLC.
The agreement, approved during a cabinet meeting, extends Rio Tinto’s exploration efforts for two more years.
Charles Bray, Executive Chairman of Aterian PLC, expressed optimism about Rwanda’s potential, citing the abundance of pegmatites across the country. These pegmatites, which support small-scale mining of Coltan and Cassiterite, hint at the possibility of large lithium deposits.
“Rwanda’s untapped mineral wealth presents a tremendous opportunity for significant lithium discoveries,” Bray noted.
2. Addressing Challenges in Beryllium Exports
Beryllium exportation faced a setback this year due to illegal mining activities, prompting the government to impose a four-month suspension starting in August.
The ban aimed to streamline the sector and ensure compliance with mining regulations. By November, the Rwanda Mines, Petroleum, and Gas Board (RMB) lifted the embargo following thorough inspections and assessments.
“All mineral exporters must strictly follow the certification and export procedures,” RMB stated, emphasizing that certified stock and new production will be prioritized under the revised guidelines.
3. Focus on Steel and Glass Manufacturing
Rwanda identified steel and glass manufacturing, alongside the automotive industry, as key growth areas over the next decade. These industries rely heavily on locally mined and processed minerals.
Fred Mugabe, Director General of Industry Promotion and Entrepreneurship Development at the Ministry of Trade and Industry (MINICOM), highlighted the country’s large iron ore deposits as a cornerstone for developing the steel industry.
Mugabe also noted that Rwanda has ample raw materials for glass manufacturing, which the country plans to prioritize in the near future.
4. Ambitious Revenue Targets for 2029
Rwanda has set an ambitious goal of doubling its annual mineral export revenue to $2.2 billion by 2029, compared to $1.1 billion in 2023.
Prime Minister Edouard Ngirente outlined the government’s strategy during the presentation of the National Strategy for Transformation (NST2) in September. The plan includes promoting professional and eco-friendly mining practices, as well as investing in local value addition and mineral processing.
Rwanda’s mining sector is positioned for remarkable growth, driven by strategic partnerships, regulatory reforms, and an ambitious vision for the future. With these steps, the country is paving the way to become a significant player in the global mining and mineral processing industries.
